Sajid Javid: Right policies can make economy’s coronavirus recovery ‘V-shaped’ April 14, 2020 Former chancellor Sajid Javid has said the UK economy’s recovery from coronavirus can be “V-shaped” if the government follows “free market” policies once the worst of the virus has passed. Javid – who was chancellor for seven months until February – today welcomed his successor Rishi Sunak’s unprecedented interventions into the economy. Sunak has unveiled [...]
Coronavirus: Banks approve 1.2m mortgage holidays amid financial strain April 14, 2020 More than 1.2m UK households have agreed mortgage holidays with their banks, figures have shown, as the coronavirus crisis causes borrowers unprecedented financial stress. Chancellor Rishi Sunak announced on 17 March that households with mortgages would be entitled to three-month payment holidays, meaning payments would be suspended. It was part of an unprecedented coronavirus response [...]
Oil prices slip as production cut underwhelms April 14, 2020 Oil prices have fallen into the red as analysts warn that the production cut agreed by Opec+ will not be enough to match the slump in demand caused by the coronavirus outbreak. Brent crude was 1.1 per cent lower at $31.40 per barrel. US crude was down 1.6 per cent at $22.05 per barrel. The [...]
Coronavirus business loans hit £450m but doubts about scheme remain April 8, 2020 UK banks have now lent £453m through the government’s coronavirus business loans scheme as it picks up following an overhaul, although a large number of firms are still struggling to access the cash they need. The Treasury said today that more than 2,500 loans for business had been approved as of yesterday via the coronavirus [...]
US stocks rise on hopes coronavirus is peaking April 8, 2020 US stocks rose at the open as investor confidence grew on hopes that the coronavirus outbreak was peaking. The Dow Jones was up 0.9 per cent in early trading while the S&P 500 was up 0.8 per cent. The Nasdaq was 0.8 per cent higher. All three had finished marginally in the red yesterday. European [...]
Coronavirus: German economy could shrink almost 10 per cent in second quarter April 8, 2020 The German economy is set to shrink at the fastest rate since at least 1970 in the second quarter as coronavirus containment measures cause a deep recession, some of the countries top think tanks have said. German GDP will fall by 9.8 per cent in the second quarter of the year, the biannual joint economic [...]
Exclusive: Just 2,000 UK firms given coronavirus business loans April 7, 2020 Just 2,022 loans have been made to the UK’s small and medium-sized firms through the government’s coronavirus business lending scheme. There have been around 300,000 enquiries so far, meaning a paltry 0.65 per cent have resulted in coronavirus business loans. The latest figures, which were compiled by industry body UK Finance but obtained independently by [...]
US stocks jump on signs coronavirus is slowing April 7, 2020 US stocks have surged for the second day as investors cheer signs that the coronavirus outbreak may be slowing and that lockdowns may soon be eased. Wall Street’s major stock indices all opened sharply higher. The Dow Jones was up 3.8 per cent in early trading and the S&P 500 was up 3.2 per cent. [...]
Wellcome Trust urges firms to donate £6bn to medical coronavirus fight April 7, 2020 Health research charity the Wellcome Trust has urged big businesses to donate £6.4bn ($8bn) to fund treatments, testing and vaccine development to fight coronavirus. Coronavirus has now infected more than 1.3m people around the world and killed more than 74,000. The World Health Organization has urged countries to ramp up testing. Countries are scrambling to [...]
Demand for UK bonds surges as government funds coronavirus spree April 7, 2020 Investor demand for UK government bonds was its highest for three years today as Britain sold £3.25bn worth of debt to help fund its unprecedented coronavirus support programmes. Buyers bid 3.05 times the £3.25bn available of the 0.125 per cent return three-year Gilt (UK government bond). It sold at an average yield of 0.204 per [...]
